BRUSSELS (dpa-AFX) - Romania's economy shrank for the second straight quarter in the three months ending June, though at a slower than estimated pace, final data from the statistical office showed on Friday.
On an unadjusted basis, GDP decreased 0.2 percent annually in the June quarter, following a 1.2 percent fall in the preceding three-month period. The rate of decline was revised from 0.4 percent contraction seen in the second estimate published on September 7.
The expenditure breakdown showed that final consumption expenditure of households dropped 1.9 percent, and general government consumption was 0.2 percent lower. Meanwhile, gross fixed capital formation advanced 4.3 percent, and net exports showed an increase of 0.3 percent as exports grew faster than imports.
The seasonally adjusted GDP contraction deepened to 1.9 percent from 1.4 percent in the previous quarter. In the previous estimate, the decline was 2.0 percent.
Compared to the first quarter, GDP remained flat in the June quarter versus a 0.1 percent slight fall in the first quarter, as estimated.
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